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Old July 11th, 2003, 07:21 AM   #1
Magic Mtn Dan
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Do you know who Performance Products is (in SoCal)?

Four Wheel Drive Hardware Acquires Performance Products, Leading Aftermarket Automotive Parts Distributor

COLUMBIANA, Ohio--(BUSINESS WIRE)--July 11, 2003--

Acquisition will expand product offering, growth opportunities
and market coverage

Four Wheel Drive Hardware announced today that it has acquired the assets of Lash International Inc. dba Performance Products, a Van Nuys, CA-based catalog and Internet distributor of aftermarket automotive products.

The acquisition will allow Four Wheel Drive Hardware, the leading mail order cataloger and Internet distributor of parts and for Jeep(R), to expand its product offering to include, under the Performance Products umbrella, parts and accessories for Porsche(R), Mercedes(R) and the truck lines of Ford(R), Chevy(R), GMC(R) and Toyota(R). Terms of the transaction were not disclosed.

"The acquisition of Performance Products will complement our leadership position in the aftermarket segment for Jeep(R) with leadership positions in the parts and accessories aftermarket segments for Porsche(R), Mercedes(R) and Toyota(R) truck," said Barry Ryan, president and CEO of Four Wheel Drive Hardware. "With the addition of Performance Products, we will be able to capitalize on growth opportunities that exist in the truck segment, which is one of the largest and fastest growing markets."

Performance Products' 60,000 square foot distribution facility in Van Nuys, CA includes a customer service center and showroom and will expand Four Wheel Drive Hardware's presence from the Midwest to the West Coast.

"By becoming part of the Four Wheel Drive Hardware team, we will be able to leverage each others' strengths which will result in improved performance and service to our customers," said Tim Stewart, Vice President of Performance Products. "This is a tremendous opportunity for the combined business to become the leading mail order cataloger and Internet distributor of aftermarket auto parts and accessories."

Performance Products was founded in 1964. Four Wheel Drive Hardware is owned by Pfingsten Partners, L.L.C. and Svoboda, Collins L.L.C., private equity firms based in Deerfield, IL and Chicago, IL, respectively.

ABOUT FOUR WHEEL DRIVE HARDWARE, L.L.C.

Columbiana, OH-based Four Wheel Drive Hardware, L.L.C. is the leading mail order cataloger and Internet distributor of Jeep(R) related parts and accessories. For more information about Four Wheel Drive Hardware, visit: www.4wd.com.

ABOUT LASH INTERNATIONAL INC. (DBA PERFORMANCE PRODUCTS)

Van Nuys, CA-based Performance Products is a leading catalog and Internet distributor of aftermarket automotive products. For more information about Performance Products, visit: www.performanceproducts.com.

ABOUT PFINGSTEN PARTNERS, L.L.C.

Deerfield, IL-based Pfingsten Partners, L.L.C. is an operationally oriented private equity firm formed in 1989 to make equity investments in middle market manufacturing, distribution and specialty publishing companies. Since completing its first investment in January 1991, Pfingsten Partners has built value by providing capital, corporate finance and operating resources necessary to improve operations and achieve profitable business growth at its platform companies in partnership with management. For more information on Pfingsten Partners, visit: www.pfingstenpartners.com.

ABOUT SVOBODA, COLLINS L.L.C.

Chicago, IL-based Svoboda, Collins L.L.C. is a private equity firm with committed capital of $150 million that identifies, invests in and helps build excellent service and distribution companies. Svoboda, Collins focuses its investments on growth equity and leveraged buyouts of business services, value-added distribution, and consumer products and services companies. For more information about Svoboda, Collins, visit: www.svoco.com.

source: press release




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Old July 11th, 2003, 07:28 AM   #2
Robert (Agoura Hills)
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that sucks! I know the owner and marketing crew,great people!

i hope they dont lose their jobs.. I hope the Porsche side of things doesnt go bye bye
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Old July 11th, 2003, 10:39 PM   #3
JayM
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That is a shame-they used to be good

Once upon a time there was a great store in Sunnyvale, right off the Central Expressway. They had everything for Porsches, knowledgeable, freindly, sponsored good events, a real part of the local Porsche community. Then they sold out to the guys in LA, who promptly closed the Sunnyvale store, transfered all the parts to LA, and if you wanted anything you had to call (they did put up a web site, but it was (and is) pretty lame). The service slipped, although some of the people there clearly still know Porsches, and I continued to buy from them. Last week I called to order an oil filter for the Ruf (same as the one in the Boxster)and some small parts for the roadster, and was told they are out of stock on the filters and don't expect to have a shipment for SEVERAL MONTHS! I tossed my catalog as soon as I hung up. I guess the above explains the problem-I suppose in this economy they just couldn't afford to keep the shelves stocked.

We need a replacement-anybody have suggestions? Anyone have experience with Pelican Parts?
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Old July 12th, 2003, 06:04 PM   #4
Catalog Guy
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Pelican Parts

I recently received a $500 order from PP. I won the 500,000th post on PPBB and was awarded a gift certificate. As soon as I wash the Box, I will take a pic of the loot and post over there. The communication from PP was impressive. Quick responses and very accessible people. I did not need to probe their technical knowledge so I cannot comment on that. However, my overall impression was pleasantly positive.
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Old July 16th, 2003, 03:42 PM   #5
Chatter Box
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Why don't you post over here? Some of us aren't welcome there. *NM*

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